PLEASANTON, Calif., March 22, 2012 /PRNewswire/ -- IronPlanet® (www.ironplanet.com), a leading online marketplace for used heavy equipment, announced record annual sales in 2011, with gross merchandise volume (GMV) exceeding $568 million, an increase of 15 percent over 2010.
"I am pleased with our 2011 results, closing another year of record sales as we continue to build the world's largest online marketplace for used equipment," said Greg Owens, CEO of IronPlanet. "Buyers and sellers are increasingly turning to IronPlanet as the trusted source to market and sell their used equipment, a true testament to the value and strength of our business model."
In 2011, IronPlanet conducted a record 114 auctions worldwide, an increase of approximately 16 percent over 2010. Through IronPlanet's marketplace, over 37,000 items were sold, up approximately 14 percent over 2010.
IronPlanet averaged more than 10,000 new user registrations a month in 2011, a 13 percent increase over 2010. With more buyers around the world, IronPlanet auctions in the U.S. generated significant international participation with approximately 40 percent of items sold receiving international bids and 22 percent of the items sold to buyers outside of the U.S.
"I am consistently told by our customers that IronPlanet's business model is a more efficient way to buy and sell equipment and this was evident as IronPlanet kicked off 2012 with our largest sale ever," said Owens. "This year we will continue to focus on driving value for our customers as we strengthen our geographic footprint, continue to expand into new vertical markets and drive new marketing initiatives to grow our worldwide buyer base."
During its first onsite and online auction from February 21-24, IronPlanet sold more than $50 million of GMV with more than 42,000 attendees from 146 countries. The four-day sale was IronPlanet's largest auction in company history.
IronPlanet is a leading online marketplace for used heavy equipment. Sellers achieve more profitable sales through low transaction costs and better price realization through a global audience of buyers. Guaranteed inspection reports and exclusive IronClad Assurance enable buyers to bid with a high degree of confidence. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.